Jeo Boden Price Surges 12% as Trump Tokens Drop
The Jeo Boden price surged over 12% in the last 24 hours after the majority of the political meme coins plunged more than 6%.
The Jeo Boden price pumped more than 12% over the past 24 hours to trade at $0.1234 at press time.
This recent surge by the BODEN price comes after the market cap for political meme coins dropped over 6% throughout the past day of trading. During this time, tokens linked to former U.S. President Donald Trump suffered losses. More specifically, MAGA Hat , MAGA and Super Trump saw their prices fall 6%, 11%, and 10%, respectively.
The Jeo Boden Price Challenging A Major Trend Line
The Jeo Boden price is attempting to overcome a negative medium-term trend line. This is a key point to watch, because it is also confluent with the $0.1370 resistance level.
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As such, BODEN overcoming this threshold might give it the room needed to rise to the next major resistance level at $0.2102. If this were to happen, it would constitute a more than 50% gain.
On the other hand, the Jeo Boden price failing to close a 4-hour candle above the aforementioned negative trend line might invalidate the bullish thesis. In this alternative scenario, the meme coin could be at risk of testing the immediate support level at $0.0968.
Continued sell pressure should BODEN reach this point could then lead to it falling to as low as $0.0725 in the short term.
Technicals Suggest BODEN Might Keep Climbing
Technical indicators on BODEN’s 4-hour chart suggest the altcoin’s price might continue to climb in the next 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are showing positive signs.
The RSI recently crossed above its Simple Moving Average (SMA) line. Traders usually see this as a sign that bulls have gained the upper hand against bears. Should buyers choose to capitalize on this advantage, it could be easier for them to push the Jeo Boden price higher than it will be for sellers to pull it down in the next 24 hours.
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What’s more, the RSI is positively sloped. This could indicate that bulls are still growing stronger. The current RSI reading in the mid-50s suggests that BODEN still has room to rise before it enters into overbought territory as well.
Meanwhile, the MACD line crossed above the MACD Signal line. This is usually seen as aan indication that a crypto has entered into a short-term positive cycle. Similar to the RSI line, the MACD line is also positively sloped, which might signal that BODEN’s bullish momentum is intensifying.
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